yes the company has co,cked this one up. Tried to gazump the underwriting with brokers and they may stuffed it up. The savage drop in the gold price will only make it harder.
The Hazelhurst inspired traders I recon about 5m (very short term holders ) now left holding the bag will probably become sellers. This will further undermine the underwriting and possibly be replaced by a placement that leave option holders in the lurch.
The company has stuffed this up,should have done a underwriting and released details weeks earlier....doing this in the last week or between end of trading and closing date is simply very bad form.
Directors deserve a slap on the wrist for this move!!
Low 20/s now on the cards.
perhaps a suspension, page-5
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